U.A.E. Economy Barely Grew in the First Half of 2026
The U.A.E. economy grew 0.4% in the first half of 2026 but contracted 2.1% in the second quarter as oil and non-oil activity weakened.
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what happened
The U.A.E. economy showed almost no growth in the first half of 2026, with real GDP rising 0.4% from a year earlier. The economy contracted 2.1% in the second quarter, Emirates NBD Research said, according to Dow Jones Newswires.
Oil production dropped 5.7% in the second quarter, while non-oil activity decreased 1.1%. Tourism, transport and trade were particularly affected by regional disruption. Financial services moved in the opposite direction, expanding 12.2% and creating a sharp gap between the banking-related sector and the wider economy.
why it matters
The figures show that financial services provided the main support to the U.A.E. economy while oil and non-oil activity weakened. For markets, the data highlight a marked divergence between banking-related activity and sectors exposed to trade, transport and tourism.
instruments
sources
- U.A.E. Economy Barely Grows in First Half, Finance Sector Outperforms — Market Talk — Dow Jones Newswires, 12 October 2026 at 11:02 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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